S&P 500 (SPX) Down $10 Over Past 4 Hours, 3 Day Down Streak Snapped; Price Base in Formation Over Past 14 Days

S&P 500 4 Hour Price Update

Updated September 10, 2020 11:13 AM GMT (07:13 AM EST)

S&P 500 closed the previous 4 hours down 0.29% (10); this denotes the 2nd straight candle it has gone down. Out of the 8 instruments in the 8 major global equity indices asset class, S&P 500 ended up ranking 5th for the four-hour candle in terms of price change relative to the previous 4 hours.

S&P 500 Daily Price Recap

S&P 500 is up 2.01% (67.12) since the day prior, marking a reversal from the day prior — and the end of a 3 day negative run. Relative to other instruments in the 8 major global equity indices asset class, S&P 500 ranked 2nd since the day prior in terms of percentage price change. Here is a daily price chart of S&P 500.

SPX

S&P 500 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 14 days S&P 500’s price has gone up 10 them.

Overheard on Twitter

Behold! Here are the top tweets related to S&P 500:

  • From smarket:

    There is an ETF for every situation. If you are bearish on US equities – there is SPXS. It’s a leveraged ETF that offers 3x returns on the downside.It means if the S&P 500 falls 1%, SPXS is expected to provide investors with a return of 3% on that same day.

  • From TheStacksMarket:

    $SPX (S&P 500) has not tested its 50 SMA and is 7.6% above its 200 SMA$INDU (Dow Jones Industrial Average) has not tested its 50 SMA and is 4.5% above its 200 SMA$COMPQ (Nasdaq Composite) dipped below its 50 SMA but is still 15.6% above its 200 SMA

  • From BuddyCA64525731:

    S&P 500 [3,399.06, +2.02%] — today’s Average True Range = 2.68% and the 10d Sma = +1.99%, up from +0.84% 5 days ago — while some traders might not acknowledge that difference as material, it certainly “agitates” many other currently [LONG] assets — watching < SPX 3,274

In terms of news links for S&P 500 here’s one to try:

Equal-Weighted S&P 500 Index Showing Internal Weakness – See It Market

This means that you weight each member by its stock price….This means that the largest stock and smallest stock by market cap will be given an equal weight.